Biden Administration Faces Conflict with Coinbase Amid SEC Federal Court Lawsuit

The Biden administration is facing a complex situation involving Coinbase, a major cryptocurrency exchange. The Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase in federal court, alleging that the platform is listing and selling unregistered securities. Coinbase has denied these allegations, asserting that it is not in violation of securities laws. Meanwhile, the Biden campaign is preparing to accept cryptocurrency donations via Coinbase, highlighting a potential conflict of interest as the administration simultaneously pursues legal action against the company. Additionally, the lawsuit includes specific allegations against Coinbase Wallet.